South Korea's AI stocks rebound sharply after steep selloff

South Korea's AI stock trade rebounded sharply Wednesday, with the Kospi index surging up to 5% after a steep selloff the previous day, while AI cloud firm Elice soared nearly 30% following a 32% crash on its market debut. Samsung Electronics and SK Hynix jumped as much as 8% and 9%, respectively, helping reverse Tuesday's rout. The rebound followed a mixed Wall Street session, with the S&P 500 rising 0.3% and the Nasdaq edging lower amid lingering concerns about AI spending costs. The Kospi has more than doubled in the first half of the year before falling nearly 40% from its June peak. Elice shares remained about 12% below their IPO price despite Wednesday's surge, though CEO Jae Won Kim said he expects revenue to at least double this year.